Wearable Injectors Market Growth & Trends
The global wearable injectors market size is expected to reach USD 23.89 billion by 2030, registering a CAGR of 15.29% during the forecast period, according to new report by Grand View Research, Inc. The market is expected to witness lucrative growth during the forecast period owing to technological advancements in wearable injectors coupled with rising demand for round-the-clock monitoring.
Technological advancements in wearable injectors, for instance, Bluetooth integrated wearable injectors, send alerts to patients, such as injection reminders and data regarding their therapy regime. Also, optional smart functionality provides connectivity to the healthcare network. Some of these devices have buttons that are accessible through clothing, and some devices prevent accidental activation. They also have audible and visual status indicators or signals. Patients can self-administer drugs subcutaneously with minimal time and effort as compared to intravenous or other routes. Patients don’t need to visit any healthcare provider for the administration.
The prevalence of lifestyle-associated diseases, such as diabetes and hypertension is expected to increase during the forecast period. These diseases demand round-the-clock monitoring of various physiological parameters, such as blood pressure and blood sugar levels. The advanced ecosystem of these devices helps healthcare care providers to access data from remote location, which reduces clinical decision time. Thus, integration of healthcare data with wearable injectors, which gets forwarded to physicians or doctors giving them real-time access to data with reduced errors, is expected to boost the wearable injectors market.
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Wearable Injectors Market Report Highlights
The on-body segment held a lucrative market share in 2021 owing to the growing preference of the patients for adhesive patches that release the drug conveniently and can be worn on the skin
The motor-driven segment is expected to register the highest growth during the forecast period owing to increasing demand from hospitals, clinics, retail chain stores, and pharmacies
The oncology segment is expected to hold the largest market share due to the globally increasing incidences of cancer
The home care segment is expected to dominate the market with the highest market share owing to increasing inclination towards the home-based treatments onset of Covid-19 pandemic can be seen and it has positively impacted the home care segment growth
North America is expected to dominate the wearable injectors market during the forecast period due to the rising demand for innovative IT solutions to streamline workflows, coupled with increasing regulatory requirements to ensure patient safety
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